AUMN closed public offering. . . .
GOLDEN, CO — Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") announced today it has closed its previously announced public offering of 4,663,250 shares of common stock, including 608,250 shares issued upon full exercise of the underwriters' over-allotment option, at a public offering price of US$18.50 per share. Concurrent with the public offering, the Company closed a private placement with its largest stockholder, The Sentient Group, of an additional 1,190,031 shares of common stock at the public offering price of US$18.50 per share. The private placement was conducted pursuant to Regulation S under the U.S. Securities Act of 1933.
Including the over-allotment shares purchased by the underwriters and the private placement shares purchased by The Sentient Group, an aggregate of 5,853,281 shares were issued under the public offering and private placement at a price of US$18.50 per share, resulting in net proceeds to the Company of approximately US$103.0 million after deducting underwriting discounts, placement agent fees and estimated offering expenses. The Company expects to use the net proceeds primarily to fund continued exploration and development of the El Quevar project, including exploration drilling, underground drifting, and related technical engineering and project assessment, in connection with the completion of a feasibility study.
